Harland & Wolff Share Discussion Threads

[this_is_me] 01/6/2022 07:29

Current market cap. £12 million, contract win revenue £8.5 million for delivery within a year. Definitely a significant contract win.

[skinny] 01/6/2022 07:04

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has acquired the former HMS Atherstone from the Ministry of Defence (MOD).

The former HMS Atherstone is a mine hunting class vessel that is no longer in Service. The Company has acquired this vessel with a view to refurbishing it for non-military uses, discussions for which have already commenced with interested parties.

As announced previously, the Company is involved in a competition run by the MOD regeneration programme for the former HMS Quorn (M55). Management believes that the acquisition of the former HMS Atherstone will significantly de-risk the M55 regeneration programme given that the two vessels share a number of spare parts and components. Should the Company be awarded the regeneration programme for the M55, such spare parts and components on the HMS Atherstone will be utilised during the regeneration programme of the M55. Management expects negotiations with the MOD on the M55 regeneration programme to be completed in the next few weeks with an announcement to be made thereafter, should an award be made in the Company's favour.

[skinny] 01/6/2022 07:02

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has been awarded an initial contract worth approximately GBP8.5 million with Riverside Resource Recovery Limited, part of the Cory Group of companies ("Cory") for the fabrication of eleven barges.

The barges will be used by Cory to transport London's recyclable and non-recyclable waste on the River Thames.

Fabrication will take place at the Harland & Wolff Belfast site, with first steel being cut within approximately eight weeks' time. The programme schedule allows for four barges to be built in tandem, with the entire build programme ending around Q2 2023. Fully fabricated barges will be sequentially delivered to Cory with the client taking delivery on the River Thames.

Harland & Wolff, group CEO John Wood, commented:

"With this material contract, we shall be opening up our vast undercover fabrication halls in Belfast and making optimal use of our new robotic welding panel line. This contract gives us the opportunity to optimise our production flows in readiness for other fabrication programmes in our plans and it demonstrates the variety of fabrication work that our facilities are ideally placed to execute upon. I am delighted to have secured this contract with our new client, Cory Group, and look forward to working very closely with them to deliver on their new barge investment programme going forward."

[ijamlon] 27/5/2022 16:51

Massive recovery today in all small ca.... Oh.

[terminator101] 26/5/2022 12:09

Oh dear, dumping under bid. Gonna drop soon.

[this_is_me] 24/5/2022 22:40

Disappointing reaction to yesterday's RNS.

[ijamlon] 23/5/2022 22:08

The sad thing is that a lot of the investors are not gamblers but shipbuilding enthusiasts who don't always understand the difference between newsflow / expected revenue and sustainable profit / shareholder value. They are just getting bled dry to feather the nests of the top 2 goons. What I have witnessed with this company undermines my faith in the U.K. approach to listed company governance. I hope someone gets their comeuppance one day.

[diku] 23/5/2022 21:12

Then somebody will buy it for a song...and then refloat it again and sucker in more...wash rinse and spin cycle repeat...

[ijamlon] 23/5/2022 14:20

I guess they will have exhausted the cash from the last placing before long. I guess they’ll do their best to have a placing above 10p. But chance the market will only bite at 8p.

[diku] 23/5/2022 14:06

What a mountain reversal...13p to 22p...and now back to 13p...lot of share are proving not for keeps...

[ali47fish] 23/5/2022 09:12

sp reacting negatively- why

[this_is_me] 23/5/2022 07:44

Revenue ramping up impressively. Contracts completed on time and on budget are developing a great reputation for the company. Being able to do so while carrying out the considerable capital expenditure and maintenance work needed to bring the yards up to a high standard shows excellent management skill and a skilled workforce.

[terminator101] 23/5/2022 07:08

Wow, losses continue to significantly outpace revenue. But at least you have a nice list of excuses from JW

[skinny] 23/5/2022 07:01

Key highlights:

-- Revenue of GBP 18.5 million for the 17-month period (31 July 2020: GBP1.48 million*)
-- Improvement in gross margins to 28% (31 July 2020: 20%)
-- Operating loss of GBP22.37 million following significant investment to support future growth of the business (31 July 2020: loss of GBP9.18 million*)

-- Three major acquisitions completed; H&W Appledore, H&W Methil and H&W Arnish
-- Two equity placings raising a total of GBP20.27 million (before expenses)
*Figure represents the 12-month period under the Company's historic accounting reference date

Key milestones achieved:

-- Significant capital investment in all yards across plant and equipment including a robotic welding panel line installation in Belfast and a robotic pipe profiler in Methil

-- All four sites became fully operational during the period
-- Marine license awarded from Department of Agriculture, Environment and Rural Affairs (DAERA) for the Islandmagee gas storage project - under judicial review

-- First major renewables contract executed with Saipem for the fabrication of 8 wind turbine generator jackets valued at GBP26.50 million

-- First pontoon build announced and commenced during the period at H&W Appledore
-- Executed contracts in four out of five key markets, final market breakthrough (defence) expected H1/ early Q3'22

-- First third-party fabrication contracts announced and commenced at H&W Arnish
Post-period end:

-- $70m debt facility signed with Riverstone Holdings LLC
-- Significant growth achieved in the cruise and ferry repair market in Q1'22
-- Repair dock at H&W Belfast operating at near-full capacity since Q4 2021
-- Largest ever cruise vessel to enter the Belfast drydock facility in over twenty five years
-- Significant progress being made on converting advanced negotiations in defence and commercial fabrication into executed contracts

The Company expects to publish its audited annual report and accounts in June, which will be sent to Shareholders and available to view on the Company's website at . A further announcement will be made once published. No material amendments to the disclosures contained within this announcement are expected within the audited financial statements.

[ijamlon] 13/5/2022 08:47

When are the board going to carry out their legal duty to remove their failing and dishonest CEO? I can think of no other company or sphere of activity where this level of under-performance would be acceptable.

[milesy] 28/4/2022 16:28

Much depends on what the auditors want to delve into, with plenty of potentially time consuming rabbit holes around acquistions no doubt.

[camdenhills] 28/4/2022 10:45

First rule for building credibility is do not say one thing then fail to deliver.

[skinny] 28/4/2022 07:03

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management provides an update on the publication of its audited results for the 17-month period ended 31 December 2021 ("FY 21").

The Company is advanced with the audit process and expects to announce its results for FY 21 and publish its annual report in May. Whilst the Company had originally anticipated an April release date, the three acquisitions completed by Harland and Wolff during the period have meant that the audit has taken longer than expected. As previously announced the Company expects revenue to be between GBP18 million and GBP20 million for FY 21.

[c2b] 13/4/2022 08:53

To be fair I criticised them for not putting out enough RNSs at the recent investors' meeting in Belfast in particular to cover the stream of repair business coming into the two dry docks. Given the new loan agreement I would hope there are no more placings until a really big new order.

[garbetklb] 13/4/2022 08:10

I wonder if this trickle of good news precedes a placing announcement.........?